Security Systems News - Richard Bravmanhttp://www.securitysystemsnews.com/taxonomy/term/4083
enPivot3 gets $23m, new investorhttp://www.securitysystemsnews.com/article/pivot3-gets-23m-new-investor
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<div class="field-item even">New infusion, led by Samsung, brings total investment to $100m</div>
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<div class="field-item even" property="schema:datePublished dc:date"><span class="date-display-single" property="schema:datePublished dc:date" datatype="xsd:dateTime" content="2012-02-08T00:00:00-05:00">02/08/2012</span></div>
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<div class="field-item even" rel="schema:author dc:creator">Martha Entwistle</div>
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<div class="field-item even" property="schema:articleBody content:encoded"> <p>AUSTIN, Texas—Pivot3 on Feb. 8 closed on a $23 million round of new equity funding, which brings total investment in the unified storage and compute company to $100 million since the company was founded in 2003.</p>
<p>The round was led by a new investor, Samsung Ventures, and included all existing investors: Focus Ventures, InterWest Partners, Lightspeed Venture Partners, Mesirow Financial, Northleaf Capital Partners and Silver Creek Ventures.</p>
<p>Lee Caswell of Pivot3 said this round of funding shows that PIvot3 “is completely committed to the surveillance space.”</p>
<p>Richard Bravman, Pivot3 CEO, said in a prepared statement, “We will accelerate the global roll-out of our innovative VMware Virtual Desktop Infrastructure initiative and introduce new solid state solutions and partner programs to the video surveillance market.”</p>
<p>Pivot3 made two other announcements: That it appointed Mark Modica to the newly created position of VP of business development, Video Surveillance; and that it entered into a commercial partnership with Samsung Techwin, “a global provider of Security Solutions, a sector that directly leverages Pivot3’s market-leading position and focus in converged compute / storage solutions for video surveillance.”</p>
<p>In a prepared statement, Brian Kang, managing director of Samsung Ventures America added, “We chose to invest in Pivot3 because we see them as a leading player in a large and rapidly growing space of strategic importance to our business. The commercial partnership with our Techwin affiliate yields an important second dimension of mutual opportunity for the companies.”</p>
<p>Caswell said: “We’re helping a set of integrators and resellers [get involved in] large scale deals where only proprietary players [previously have had a foothold]."</p>
<p>“There’s more margin opportunity [and we can] provide more engineering integration and that’s where the value is moving, as opposed to just going south into the NVR replacement market,” Caswell added.</p> </div>
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<span property="dc:title" content="Pivot3 gets $23m, new investor" class="rdf-meta element-hidden"></span>Wed, 08 Feb 2012 19:28:27 +0000Tess Nacelewicz15210 at http://www.securitysystemsnews.comhttp://www.securitysystemsnews.com/article/pivot3-gets-23m-new-investor#comments